Traders Purchase Large Volume of Call Options on Ares Management (ARES)

Ares Management LP (NYSE:ARES) was the recipient of unusually large options trading activity on Wednesday. Traders bought 2,168 call options on the company. This is an increase of approximately 4,069% compared to the typical volume of 52 call options.

Ares Management (ARES) opened at $22.95 on Friday. The stock has a market cap of $4,890.00, a P/E ratio of 40.98, a P/E/G ratio of 0.80 and a beta of 1.23. Ares Management has a fifty-two week low of $17.15 and a fifty-two week high of $23.80. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.56.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $283.67 million during the quarter, compared to analyst estimates of $286.76 million. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. equities analysts expect that Ares Management will post 1.81 earnings per share for the current year.

ARES has been the subject of a number of research reports. BidaskClub raised shares of Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Oppenheimer initiated coverage on shares of Ares Management in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price for the company. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Monday, October 9th. Royal Bank of Canada set a $21.00 target price on shares of Ares Management and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, TheStreet cut shares of Ares Management from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.29.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Ares Management by 359.8% in the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after buying an additional 7,700 shares during the last quarter. Commerce Bank bought a new position in Ares Management during the 3rd quarter worth approximately $205,000. Virtu KCG Holdings LLC bought a new position in Ares Management during the 2nd quarter worth approximately $212,000. Goldman Sachs Group Inc. raised its holdings in Ares Management by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Clinton Group Inc. bought a new position in Ares Management during the 2nd quarter worth approximately $264,000. Institutional investors and hedge funds own 15.59% of the company’s stock.

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About Ares Management

Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.

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